H1 2023: The key producers of GGBFS in H1 2023 were China Baowu Steel Group Corp. Ltd, Nippon Steel Corporation, and ArcelorMittal S.A. Based on volume, Asia Pacific region was the top consumer of GGBFS. Prices for GGBFS in Asia remained stable in H1 2023. Despite the product's ease of availability, prices in the Asian market did not significantly change over the course of the period due to decreased optimism in the construction industry. A mediocre demand for GGBFS, which in turn affected the worldwide price trend of many commodities, including GGBFS. In the Chinese market, prices remained stable throughout H1 2023. Early summer saw a little recovery in the worldwide construction sector, but overall conditions remained dull. Similar price movement for GGBFS was also seen in the Indian market. It was due to the factors that the country had plenty of product and there were no supply problems. In North America, due to hazy demand scenarios and the declining economic momentum of the region, GGBFS prices showed minimal variations during the first half of 2023 and GGBFS prices were steady. A muted demand outlook for the product had an impact on the price stability. Supplies on the world market remained stable, and commercial operations of the exporters were unaffected. Additionally, decreased freight costs on several trade routes in May 2023 led to smooth trading activity in the US.
The global Granulated Ground Blast Furnace Slag (GGBFS) market has reached around 408 million tonnes in 2022 and is expected to grow at a CAGR of 2.23% during the forecast period until 2035.
Granulated Ground Blast Furnace Slag (GGBFS) is a by-product of the iron blast furnace process. In this process, iron ore, limestone, and coke are reacted to a temperature of approximately 1500°C in the furnace. GGBFS displays unique properties like it is highly resistant to chemicals, salty water, freezing and thawing. When GGBFS is added to concrete, the property of concrete is improved. Granulated Ground Blast Furnace Slag (GGBFS) improves the compressive strength, longer durability, and utility of concrete.
Based on type, Granulated Ground Blast Furnace Slag (GGBFS) market has two types available which are, Alkalinity Blast Furnace Slag and Acidic Blast Furnace Slag. Wherein the major portion is held by Alkalinity Blast Furnace Slag with around 73% of the global market in 2022. The slag is helpful for longevity of concrete which promotes its strength and utility. Also, Granulated Ground Blast Furnace Slag (GGBFS) helps as an insulating material.
The primary market drivers of GGBFS are the Portland Cement & Concrete Industry. In 2022, this industry held a market share of approximately 69% of global GGBFS market. Granulated Ground Blast Furnace Slag when crushed or milled to very tiny cement-sized particles, displays geopolymeric qualities that make it a viable additive for Portland cement. The Granulated Ground Blast Furnace Slag (GGBFS) consumption is anticipated reach around 497 million tonnes by 2035.
The dominating region that demands the most significant volume in Asia Pacific Region. In 2022, Asia Pacific consumed roughly 34% of the net GGBFS. Owing to rapid industrialization and new construction projects, the demand of cement and concrete will rise in developing nations like India, which is anticipated to result in expansion of GGBFS market. Currently, China is the highest producer of Granulated Ground Blast Furnace Slag (GGBFS).
Based on the end-user industry, the Granulated Ground Blast Furnace Slag (GGBFS) market has various uses in construction industry like Portland Cement & Concrete, Bricks & Blocks, and Others. The slag is deployed for land filling and other commercial purposes as well. However, Portland Cement & Concrete is the biggest end-user market of Granulated Ground Blast Furnace Slag, which is expected to increase the GGBFS demand in the upcoming years.
Significant companies for Global Granulated Ground Blast Furnace Slag (GGBFS) market are China Baowu Steel Group Corp., Ltd, Nippon Steel Corporation, ArcelorMittal S.A., JFE Steel Corporation, Maanshan Iron & Steel Company Limited, Changcheng Special Steels Co Ltd, Baosteel, Hunan Valin Xiangtan Iron and Steel Co., Ltd., Zenith Steel Group Co. Ltd., Gansu Jiu Steel Group Hongxing Iron and Steel Co ltd., TATA Steel and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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The objective of the Study:
• To assess the demand-supply scenario of Granulated Ground Blast Furnace Slag (GGBFS), which covers the production, demand, and supply of Granulated Ground Blast Furnace Slag (GGBFS) around the globe.
• To analyze and forecast the market size of Granulated Ground Blast Furnace Slag (GGBFS).
• To classify and forecast the Global Granulated Ground Blast Furnace Slag (GGBFS) market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Granulated Ground Blast Furnace Slag (GGBFS) market.
To extract data for the Global Granulated Ground Blast Furnace Slag (GGBFS) market, primary research surveys were conducted with Granulated Ground Blast Furnace Slag (GGBFS) manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also enquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Granulated Ground Blast Furnace Slag (GGBFS) market over the coming years.
ChemAnalyst calculated Granulated Ground Blast Furnace Slag (GGBFS) demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Granulated Ground Blast Furnace Slag (GGBFS). ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Granulated Ground Blast Furnace Slag (GGBFS) manufacturers and other stakeholders
• Organizations, forums and alliances related to Granulated Ground Blast Furnace Slag (GGBFS) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Granulated Ground Blast Furnace Slag (GGBFS) manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Granulated Ground Blast Furnace Slag (GGBFS) market segments into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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408 million tonnes
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Market size Volume by 2035
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497 million tonnes
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Growth Rate
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CAGR of 2.23% from 2023 to 2035
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2035
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Quantitative units
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Demand in million tonnes and CAGR from 2023 to 2035
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand by type, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape.
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Segments covered
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By End-Use: (Portland Cement & Concrete, Bricks & Blocks, and Others.)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com